Cash mode limit for money lending business

Kollipara Sundaraiah (B.com) (2963 Points)

04 May 2021

Sec 44ad it return filed money lending business person money amount pay to customers any limit of cash mode allowed in it act.

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5 Replies

CA. Sourav Sarkar (Chartered Accountant ) (24583 Points)
Replied 04 May 2021

Cash can be paid not more than 10000 rupees in a single day u/s 269

Lotus Agrawal (Practice) (1361 Points)
Replied 04 May 2021

Not exceeding 10000/- but not under section 269 but 40(A)(3) in my opinion

CA. Sourav Sarkar (Chartered Accountant ) (24583 Points)
Replied 04 May 2021

Yes 40(A)(3)

Lotus Agrawal (Practice) (1361 Points)
Replied 04 May 2021

Correct

CA. Sourav Sarkar (Chartered Accountant ) (24583 Points)
Replied 04 May 2021

Yes you're right

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